Forex
Aussie, Kiwi Dollars Hold Near Highs Amid US Debt Concerns
The Australian and New Zealand dollars held near multi-month highs on Monday, fueled by concerns over US Treasury debt woes.
The Aussie was steady at $0.7165 after rallying 0.8% on Friday to end last week 1.2% higher, its eighth consecutive week of gains since 2020.
Currency strategist Joseph Capurso at Commonwealth Bank of Australia said 'AUD/USD can edge higher above 0.72 this week mainly because of a weaker USD in our view', but noted that a new year-to-date high above $0.7278 remains unlikely.
The Reserve Bank of Australia will release minutes of its August policy meeting on Wednesday, where policymakers kept the key interest rate steady at 4.35% for a second time this year.